Tax

Tax News & IRS Insights for Accounting Professionals

Accounting Today delivers news and analysis for accounting and tax professionals on federal and state tax developments, IRS guidance,information reporting, and operational implications for practices and clients. Our coverage focuses on legislative and procedural shifts that tax practitioners must monitor in planning, compliance, and advisory contexts.

Tax practice

In the Blogs: Hailing the Chiefs

Highlights of some of our favorite tax-related blogs from the past week.

February 20
AT Think IRS Still Plagued by Identity Theft This Tax Season

The Internal Revenue Service has been unable to get control of rampant identity theft this tax season, despite high-profile efforts to confront the problem with the help of private industry.

February 19

Michael Cohn
Tax practice

Ted Cruz Tax Plan Seen as Aiding Wealthy and Costing $8.6 Trillion

Presidential candidate Ted Cruzs tax proposals, which include cutting taxes for most individuals and replacing the corporate income tax with a flat 16 percent business tax, would reduce federal revenue by $8.6 trillion over a decade and almost surely depress the economy over the long run, according to a policy study and its authors.

February 19
Financial planning

Tax Strategy Scan: The Tax Advantages of Old Age

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

February 19
Tax practice

Tax Strategies Scan: Max Out Benefits for Student Loan Borrowers

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

February 18
Tax practice

Expand Your Client Base This Busy Season

Tax season may not be the easiest time for preparers to develop new business, but it may be the best time, according to Chuck McCabe, president of Peoples Income Tax.

By Roger Russell
Senior Editor

February 18
AT Think Are Millennials Afraid to File Their Taxes?

Millennials are more fearful of filing taxes than most Americans, according to a new survey.

February 18

Michael Cohn

Resources

The latest Accounting Today research and discussion:

Web Seminar The most important supply for tax firms isn't found on shelves

In this webinar, we'll show you how tax and accounting professionals are leveraging new technologies to make their firms more efficient and to stay ahead of competitors.

Partner Insights from Thomson Reuters
Web Seminar The psychology of a modern tax workflow: Reducing anxiety, decision fatigue & compliance risk

In this session you'll learn practical, firm-tested principles to reduce confusion, improve predictability, and strengthen both client and staff confidence.

Partner Insights from SmartVault
On-Demand Web Seminar Tax Planning for 2027

This webinar will look at key opportunities and stumbling blocks for practitioners

Sponsored by 8am CPACharge

Tax: Key Questions & Analysis:

What IRS guidance on forms and information reporting should practitioners prioritize?

The IRS continues to update thresholds and instructions for critical tax forms. This includes changes to information reporting requirements and guidance on evolving reporting standards, affecting 1099, W-2 and similar reporting obligations.

What procedural developments affect IRS automatic change consent for method changes?

Tax professionals must understand which accounting method changes qualify for automatic consent versus advance consent. This determines whether a Form 3115 must be filed with IRS National Office or via automatic procedures.

How are tip-related tax provisions evolving under current policy?

New tax provisions related to tip income will impact how service industry clients and payroll units handle tax reporting and compliance. This includes draft schedules and withholding considerations.

What IRS guidance will shape compliance for the 2026 filing season?

Practitioners will need to understand procedural updates, forms changes, and reporting shifts that will affect compliance workflows and client expectations for the 2026 filing season. This includes the implementation timeline for new schedules and reporting requirements as well as for emerging areas such as crypto broker reporting.